New Rules for HSMP Applications? Tier 1 General Visa?

I've been on the Home Office website but am a bit confused about the changes to highly skilled migrant work permit. Now its a Tier 1 visa? What is the difference?

Contractor Taxation Vocabulary: 


The Tier 1 (General) Visa is

The Tier 1 (General) Visa is very similar to the HSMP or Highly Skilled Migrant Permit. Except, of course, it's stricter! The main changes were: (1) a removal of Bachelors Degree qualifcations as scoring any points. If you haven't got degree qualifications equivalen to an MBA then you won't qualify for the new HSMP, no matter what your earnings rate and experience. (2) the English language requirement has been made more strict. (3) the maintenance requirements (savings/funds) have been made more strict. You can see whether you qualify through the Tier 1 General Visa Points Calculator